Pest Analysis for South Korea
1.0 Introduction
This report focuses on the external factors that are likely to have an impact on the making of a Lobster hatchery in South Korea. In order to minimize possible market barriers, Political, Economic, Socio-cultural and Technological (PEST) analysis has been conducted on the country of interest. The analysis has supported to gain more information regarding the marketing environment of South Korea and the potentiality of the success of the Lobster hatchery.
Matured Market size lobster Cooked Whole lobster
Lobsters are a rare and authentic delicacy anywhere in the world. Due to the high world-wide market demand and shortage in supply, lobsters are priced highly. The mission of a lobster hatchery is to culture and stock lobsters under the method of land-based farming and commercialize it at a competitive price to the local seafood market. Lobster hatchery concentrates on a Business-2-Business approach in South Korea with the concept of aqua-culture. Due to the necessity of a high-budget construction cost as well as sophisticated technological prerequisite, lobster hatcheries are only a few in number all around the world.
Orney Lobster Hatchery located in Orney Isles, Europe
South Korea, in the contemporary world, symbolizes prosperity, success and industrialization. The country is regarded as one of the Asian Tigers that has flourished in terms of its economy. It is one of the highly developed and prosperous countries located in Southeast Asia excelling predominantly with its technological based product export. South Korea is bordered by China, Japan and North Korea along with the Sea of Japan and Yellow sea on both sides of it. The current population is estimated at 48.46 million latest (The World Factbook, 2008) with most of the people living at the capital of Seoul, which is also identified as the second largest metropolitan city in the world. The country is also notified for their excellent transport services that
This report focuses on the external factors that are likely to have an impact on the making of a Lobster hatchery in South Korea. In order to minimize possible market barriers, Political, Economic, Socio-cultural and Technological (PEST) analysis has been conducted on the country of interest. The analysis has supported to gain more information regarding the marketing environment of South Korea and the potentiality of the success of the Lobster hatchery.
Matured Market size lobster Cooked Whole lobster
Lobsters are a rare and authentic delicacy anywhere in the world. Due to the high world-wide market demand and shortage in supply, lobsters are priced highly. The mission of a lobster hatchery is to culture and stock lobsters under the method of land-based farming and commercialize it at a competitive price to the local seafood market. Lobster hatchery concentrates on a Business-2-Business approach in South Korea with the concept of aqua-culture. Due to the necessity of a high-budget construction cost as well as sophisticated technological prerequisite, lobster hatcheries are only a few in number all around the world.
Orney Lobster Hatchery located in Orney Isles, Europe
South Korea, in the contemporary world, symbolizes prosperity, success and industrialization. The country is regarded as one of the Asian Tigers that has flourished in terms of its economy. It is one of the highly developed and prosperous countries located in Southeast Asia excelling predominantly with its technological based product export. South Korea is bordered by China, Japan and North Korea along with the Sea of Japan and Yellow sea on both sides of it. The current population is estimated at 48.46 million latest (The World Factbook, 2008) with most of the people living at the capital of Seoul, which is also identified as the second largest metropolitan city in the world. The country is also notified for their excellent transport services that
References: Websites • Agriculture and Agri-Food Canada, 2006, Agri-Food Past, Present & Future Report South Korea, viewed 25 September 2008, http://www.ats.agr.gc.ca/asia/4209_e.htm • Asia Market Research 2002, Asia Capsule, viewed 23 September 2008, http://www.asiamarketresearch.com/asia/ • Australian Trade Commission, 2008, Seafood to Korea, viewed 25 September 2008, http://www.austrade.gov.au/Seafood-to-Korea/default.aspx • Korean Culture And Information Service, 2008, About Korea, viewed 23 September 2008, http://www.korea.net/korea/korea.asp • Korean Culture And Information Service, 2008, Today’s Korea, viewed 23 September 2008, http://www.korea.net/news/news.asp • The World Factbook, 2008, Korea,South, viewed 23 September 2008, https://www.cia.gov/library/publications/the-world-factbook/geos/ks.html